onsider a credit card with a balance of $8500 and an APR of 14.5%. If you want to make monthly payments in order to pay off the balance in 11 year, what is the total amount you will pay? Round your answer to the nearest cent, if necessary
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onsider a credit card with a balance of $8500 and an APR of 14.5%. If you want to make monthly payments in order to pay off the balance in 11 year, what is the total amount you will pay? Round your answer to the nearest cent, if necessary
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- Consider a credit card with a balance of $7000. You wish to pay off the credit card in each scenario. Calculate the following. Round your answer to the nearest cent, if necessary.a. The amount of a monthly payment within the time frame givenb. The total amount paid over the time period12. APR of 17.99% paid off within 1 year APR of 24% paid off within 3 yearsConsider a credit card with a balance of $9000 and an APR of 16.99% . In order to pay off the balance in 3 years, what monthly payment would you need to make? Round your answer to the nearest cent, if necessary.Consider a credit card with a balance of $7000 and an APR of 12.5%. If you want to make monthly payments in order to pay off the balance in 11 year, what is the total amount you will pay? Round your answer to the nearest cent, if necessary.
- Use PMT= HA to determine the regular payment amount, rounded to the nearest dollar. Your credit card has a balance of $4200 and an annual interest rate of 1% You decide to pay off the balance over three years. If there are no further purchases charged to the card, a. How much must you pay each month? b. How much total interest will you pay? a. The monthly payments are approximately $ (Do not round until the final answer. Then round to the nearest dollar as needed.) b. The total interest paid over 3 years is approximately $ (Round to the nearest dofar as needed.)Use PMT = to determine the regular payment amount, rounded to the nearest dollar. Your credit card has a balance of $5800 and an annual interest - nt rate of 12%. You decide to pay off the balance over two years. If there are no further purchases charged to the card, a. How much must you pay each month? b. How much total interest will you pay? a. The monthly payments are approximately $ (Do not round until the final answer. Then round to the nearest dollar as needed.) b. The total interest paid over 2 years is approximately $. (Round to the nearest dollar as needed.)You get a new credit card from your bank. The document that comes with the card informs you that the interest rate on that card is 24% APR with monthly compounding. What is the effective annual rate you'll actually be paying? Enter your answer as a percentage, rounded to 2 decimals, and without the percentage sign ('%'). For example, if your answer is 0.23456, then enter 23.46
- Assume you have a balance of $3200 on your credit card that you want to pay off. Calculate your monthly payment and total payment under the given conditions. Assume you make no additional charges to the card. The credit card APR is 18% and you want to pay off the balance in 3 years.P. Use PMT to determine the regular payment amount, rounded to the nearest dollar. Your credit card has a balance of $4800 and an annual -nt interest rate of 12%. You decide to pay off the balance over three years If there are no further purchases charged to the card, a. How much must you pay each month? b. How much total interest will you pay? ked Scol a. The monthly payments are approximately S (Do not tound until the final answer Then round to the nearest dollar as needed) suon estionUse PMT = to determine the regular payment amount, rounded to the nearest dollar. Your credit card has a balance of S$3600 and an annual interest rate of 12%. You decide to pay off the balance over five years. If there are no further purchases charg -nt7 1- 1+ a. How much must you pay each month? b. How much total interest will you pay? a. The monthly payments are approximately S- (Do not round until the final answer. Then round to the nearest dollar as needed.) b. The total interest paid over 5 years is approximately S (Round to the nearest dollar as needed.) Enter your answer in each of the answer boxes
- You have asked Raider Bank for a $20,000 signature loan, where you will be charged 1% per month informs you that the terms of the loan requires you to make monthly payments. What is the Excel F your daily payments that will be drawn from your account automatically? 200/12 PUNTO 145 and 200001← Use PMT- to determine the regular payment amount, rounded to the nearest dollar. Your credit card has a balance of $3600 and an annual interest rate of 16% With no further 1- purchases charged to the card and the balance being paid off over three years, the monthly payment is $127, and the total interest paid is $972. You can get a bank loan at 8.5% with a term of four years. Complete parts (a) and (b) below. a. How much will you pay each month? How does this compare with the credit card payment each month? Select the correct choice below and fill in the answer boxes to complete your choice. (Do not round until the final answer. Then round to the nearest dollar as needed) This is 5 A. The monthly payments for the bank loan are approximately $ OB. The monthly payments for the bank loan are approximately $ This is 5 less than the monthly credit card payments more than the monthly credit card paymentsYou get a new credit card from your bank. The document that comes with the card informs you that the interest rate on that card is 19.1% APR. What is the effective annual rate you'll actually be paying? The credit card company uses monthly compounding of interest. Enter your answer as a percentage, rounded to 2 decimals, and without the percentage sign ('%'). For example, if your answer is 0.23456, then enter 23.46 21.98